Navigating Security Interests in Retail Merchandise

Customers are the lifeblood of a retail company. Through purchases of merchandise, they provide necessary liquidity for the retailer’s operations and going-concern value. For many retailers, this liquidity often comes in the form of customer deposits for merchandise to be manufactured by the retailer and received by customers at a future date.

Filed under:
USA, Insolvency & Restructuring, Morris Nichols Arsht & Tunnell LLP, Uniform Commercial Code (USA)
Authors:
Curtis S. Miller
Location:
USA
Firm:
Morris Nichols Arsht & Tunnell LLP
Third Circuit holds structured dismissal deviating from Bankruptcy Code priority scheme may be utilized in appropriate circumstances

On May 21, 2015, the United States Court of Appeals for the Third Circuit answered the long-asked question of whether structured dismissals are permissible under the Bankruptcy Code with a resounding yes.

Filed under:
USA, Insolvency & Restructuring, Litigation, Morris Nichols Arsht & Tunnell LLP, United States bankruptcy court, Third Circuit
Authors:
Derek C. Abbott , Robert J. Dehney , Eric D. Schwartz , Donna L. Culver , Curtis S. Miller , Gregory W. Werkheiser
Location:
USA
Firm:
Morris Nichols Arsht & Tunnell LLP
Delaware Court of Chancery issues significant opinion on corporate creditors; addresses fiduciary duties, standing, and measure of insolvency

In an opinion issued on May 4, 2015, Quadrant Structured Products Co., Ltd. v. Vertin, the Court of Chancery provided important guidance to distressed Delaware corporations and their creditors.

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Morris Nichols Arsht & Tunnell LLP, Fiduciary, Standing (law), Delaware Court of Chancery
Location:
USA
Firm:
Morris Nichols Arsht & Tunnell LLP